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Is Forge Global Holdings Inc. (NYSE:FRGE), -1956.28% Away From High, Poised For A Strong Comeback?

In last trading session, Forge Global Holdings Inc. (NYSE:FRGE) saw 1.28 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $2.31 trading at -$0.37 or -13.81% at ring of the bell on the day assigns it a market valuation of $421.67M. That closing price of FRGE’s stock is at a discount of -1956.28% from its 52-week high price of $47.50 and is indicating a discount of -16.02% from its 52-week low price of $2.68. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.3 million shares which gives us an average trading volume of 1.52 million if we extend that period to 3-months.

For Forge Global Holdings Inc. (FRGE), analysts’ consensus is at an average recommendation of an Overweight. Splitting up the data highlights that, out of 2 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.14 in the current quarter.

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Forge Global Holdings Inc. (NYSE:FRGE) trade information

Upright in the red during last session for losing -13.81%, in the last five days FRGE remained trading in the red while hitting it’s week-highest on Friday, 09/16/22 when the stock touched $2.31 price level, adding 44.2% to its value on the day. Forge Global Holdings Inc.’s shares saw a change of -76.52% in year-to-date performance and have moved -34.56% in past 5-day. Forge Global Holdings Inc. (NYSE:FRGE) showed a performance of -38.24% in past 30-days. Number of shares sold short was 3.38 million shares which calculate 1.18 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $10.00 to the stock, which implies a rise of 76.9% to its current value. Analysts have been projecting $10.00 as a low price target for the stock while placing it at a high target of $10.00. It follows that stock’s current price would drop -332.9% in reaching the projected high whereas dropping to the targeted low would mean a loss of -332.9% for stock’s current value.

Forge Global Holdings Inc. (FRGE) estimates and forecasts

2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $16.6 million for the same. And 2 analysts are in estimates of company making revenue of $20.26 million in the next quarter that will end on Dec 2022.

FRGE Dividends

Forge Global Holdings Inc. is more likely to be releasing its next quarterly report on August 11 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Forge Global Holdings Inc. (NYSE:FRGE)’s Major holders

Insiders are in possession of 27.75% of company’s total shares while institution are holding 24.25 percent of that, with stock having share float percentage of 33.56%. Investors also watch the number of corporate investors in a company very closely, which is 24.25% institutions for Forge Global Holdings Inc. that are currently holding shares of the company. Temasek Holdings (Private) Limited is the top institutional holder at FRGE for having 8.61 million shares of worth $19.88 million. And as of Jun 29, 2022, it was holding 5.02% of the company’s outstanding shares.

The second largest institutional holder is Wells Fargo & Company, which was holding about 2.52 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 1.47% of outstanding shares, having a total worth of $5.81 million.

On the other hand, First Tr Exchange Traded Fd-First Trust Merger Arbitrage Fd and Vanguard Extended Market Index Fund are the top two Mutual Funds which own company’s shares. As of Dec 30, 2021, the former fund manager was holding 0.62 million shares of worth $1.43 million or 1.20% of the total outstanding shares. The later fund manager was in possession of 1.36 million shares on Jun 29, 2022, making its stake of worth around $3.14 million in the company or a holder of 0.79% of company’s stock.

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